The Hindu : Karnataka / Bangalore News : Exports in 2008-09 touch Rs. 1,35,000 crore

Online edition of India's National Newspaper
Wednesday, Jun 24, 2009
ePaper | Mobile/PDA Version

Karnataka

Karnataka - Bangalore

Exports in 2008-09 touch Rs. 1,35,000 crore

Special Correspondent

— Photo: V. Sreenivasa Murthy

Good record: FKCCI Export Excellence Awards winners assemble at a function in Bangalore on Tuesday.

Bangalore: Exports from Karnataka in 2008-09 amounted to Rs. 1,35,000 crore, despite the global economic slow down.

The Federation of Karnataka Chambers of Commerce and Industry (FKCCI), which presented Export Excellence Awards for the fourth year on Tuesday, received nominations from 105 exporters in the State whose combined value of exports was Rs. 56,000 crore. Forty-three of them were presented the awards.

Speaking on the occasion, Chairman and Managing Director of Export Credit Guarantee Corporation of India Ltd., A.V. Muralidharan said exports had started sliding from October 2008 onwards and were yet to recover. The Government of India was planning a stimulus package for exporters, due to be announced shortly, he said.

Support

“During the rupee appreciation and depreciation, Indian banks rather than foreign banks stood by exporters. International export insurers have even downgraded India but we have not,” he said.

EXIM Bank of India’s Chairman and Managing Director T.C. Venkata Subramanian said world trade had shrunk by 16 per cent in value and this meant lesser opportunities for Indian exporters. There was only a 3.4 per cent growth in exports from India last fiscal and a flat growth had to be expected this year. There was better growth only in services exports, mainly software, he said.

Slowdown

FKCCI President D. Muralidhar said major markets for Indian exporters — the U.S. and the European Union — were badly affected by the slowdown, and this had adversely impacted exports. With global market conditions remaining bleak, the States and Union Government should continue to come out with incentives and concession packages to help trade tide over a difficult period, he said.

Printer friendly page
Send this article to Friends by E-Mail

Karnataka